Eli Lilly and Company (NYSE:LLY) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in Eli Lilly and Company (NYSE:LLY) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 693,625 shares of the company’s stock after selling 37,799 shares during the period. Eli Lilly and Company accounts for 1.1% of New York State Teachers Retirement System’s holdings, making the stock its 12th largest position. New York State Teachers Retirement System’s holdings in Eli Lilly and Company were worth $535,479,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $27,000. MidAtlantic Capital Management Inc. acquired a new position in Eli Lilly and Company during the third quarter worth $30,000. Highline Wealth Partners LLC boosted its stake in Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after buying an additional 20 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Eli Lilly and Company by 117.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 46,132 shares of the company’s stock worth $41,000 after buying an additional 24,879 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new position in Eli Lilly and Company during the fourth quarter worth $50,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. Barclays lowered their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America reissued a “buy” rating and set a $997.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, December 10th. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $997.50.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $844.82 on Friday. The stock’s 50-day moving average is $794.44 and its two-hundred day moving average is $844.60. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 0.97. Eli Lilly and Company has a 1-year low of $711.40 and a 1-year high of $972.53. The company has a market cap of $802.01 billion, a price-to-earnings ratio of 72.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a return on equity of 86.26% and a net margin of 23.51%. Analysts forecast that Eli Lilly and Company will post 23.33 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio is currently 44.41%.

Eli Lilly and Company declared that its board has initiated a stock buyback program on Monday, December 9th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.